Skip to comments.Piketty's charge: How a French economist 'rock star' is 'freaking out' the super rich
Posted on 04/25/2014 3:52:51 AM PDT by SoFloFreeper
Just looking at the headlines about Thomas Picketty shows that something is up. The Wall Street Journal says he "Revives Marx."
The New York Times calls him a "Rock Star."
...What Piketty has done, according to the official book description on Amazon, is look at the growing economic inequality and concentration of wealth. He examines data from the 1700s and forward and finds social and economic patterns that he says show what is at fault....
(Excerpt) Read more at m.canton.wickedlocal.com ...
Many of our contemporary multimillionaires and even billionaires recognized Obama's charisma as potentially the first African-American president and believed they could crony up to him
Well, if some frog says it, I guess I’m gonna just get out there and equalize what money I have with those that don’t want to do anything for it. Should take about 35 seconds or so.
Free markets lift all. What creates the huge inequities isn’t the wealthy’s investments - it’s socialism and crony capitalism that sends huge portions of capital to the few.
Remove the socialism and crony capitalism of Obama(bail out GM, Solyndra, etc.) and all will benefit.
The growing inequality and concentration of wealth is due to differences in individuals with respect to ambition, intelligence, prudence, willingness to take risk, and ability to delay gratification. No other explanation required.
That having been said there is no intrinsic problem with wealth inequality. The leftwingers always ignore that industry creates more wealth, it doesn't just reorganize a static quantity that becomes maldistributed.
The basic fundamental underlying premises of these tiresome statists are false. This latest entry is a mere rehash of the same old same old...
I knew Milton Friedman. He was an economist, if not The Economist. This Marxist-du-jour is no Milton Friedman.
Someone who makes $40 million a year can pay a 75% tax and still maintain a mansion, a vacation home, and travel the world. However, the trucking company owner from Lincoln, NE who merely makes $500k a year cannot pay such a high tax rate and still enjoy an effluent lifestyle. The super-rich don't like having the hired help, like their doctors and contractors, showing up at their clubs or vacation spots. God forbid, that neurosurgeon might save some money back for a truly extravagant Vegas vacation and book the penthouse for a couple of nights. Then George Clooney has to live with the uncomfortable reality that some 'nobody' slept on the same bed he's in.
-— The leftwingers always ignore that industry creates more wealth, it doesn’t just reorganize a static quantity that becomes maldistributed.-—
This is the F=ma of Leftist stupidity.
The poor in the US live better than the poor anywhere else unless they get involved with drugs. The US is one of the few places in the world where people apparently don’t mind going to prison.
His book is basically Das Kapital for the 21st century.
“French Economist” is a contradiction in terms.
The left uses undefined terms like “super rich” so that everyone has their own interpretation.
In all leftist and LIV minds it means “anyone that has more than me”.
In reality, it becomes “anyone that owns ANYTHING”.
And, in both cases, these “brilliant” industrialists and capitalists were absolutely, positively, unmistakably wrong, wrong, wrong. In the final analysis, these fools all danced to Der Fuhrer’s and Obamination’s will — or else.
Liberals love to think that all our money belongs to them. They pretend they care about poverty while they scheme to push us all into a life of poverty. They are also causing the income gap to widen with their corrupt policies that favor anyone who gives them large sums of money. Both political parties are guilty of doing this but it’s the democrats who want to control every aspect of our lives.
if the Feds continue QE of course this will translate to a greater separation of wealth, those that have stocks/assets will get richer, those with nothing stay where they are.
Obama (influencing Fed) is creating the exact problem he says he wants to solve.